Electricity is becoming expensive with each passing day and more people are getting interested in using solar energy to meet their electricity needs. Power cuts and dependence on DG sets is making people look for more and better sources. Solar PV panels provide a very good alternative. Ministry of New and Renewable Energy (MNRE), Government of India is also promoting solar PV systems under the Jawaharlal Nehru National Solar Mission in the country. They also provide subsidy to people buying solar panels under this scheme. There are a lot of people keen in buying solar panels in India so we thought of doing a research on price of solar panels. Below is our research on price of solar panels:
As per our resources from the solar PV industry, cost of a PV module (just the panel) costs anywhere between Rs 30 to Rs 60 per watt of power generated (depending on the quantity you are buying). A good imported module will cost around Rs 40-45 per watt (for bulk transactions, not for retail). Good ones manufactured in India would come as low as Rs 30-32 per watt (for bulk transactions, not for retail). Please note that this is the cost for the panel and in case you are looking for inverter and batteries, the cost would be additional. A good 5 kW system for a home would cost around Rs 5-7 lakhs to setup (at retail price of around Rs 50-60 per Wp) , which can provide electricity for 25 years. The additional operating cost will include the cost of replacing the batteries.
MNRE provides 30% capital subsidy on capital expenditures for rooftop solar systems for both commercial and residential entities for systems up to 100 kW. The government also provides loans at 5% per annum for 50% of the capital expenditure for 5 years tenure for both commercial and residential entities. Commercial entities can claim either capital or interest subsidies. (note: As on October 2014, we have heard from several vendors that subsidy is hard to get, as either the applications are not being processed or taking quite a lot of time to get processed. Please check with your vendor if they will be able to get you subsidy or not.).
We have also started doing some research on the prices of Solar PV Panels from various manufacturers in the country and here are some numbers from a good indian manufacturer (for bulk transaction) and some retail vendors/suppliers (for retail/small transactions):
Please note that Mono is for Monocrystaline PV cell and Multi is for Multicrystaline (or Polycrystaline) PV cell. The difference between the two is that Monocrystaline is made of single silicon crystal whereas Multicrystaline PV is made up of multiple crystals. A monocrystaline is more efficient in converting solar energy into electricity per sq meter area than a multicrystaline PV. Thus the space required for the same amount of wattage is less in monocrystaline PV panel. Thus it is costlier than a Multicrystaline PV. The choice between the two depends on the area that you have for PV installation. Also the price increases as you decrease the panel wattage. So smaller the panel you buy, costlier it is.
More details on Solar PV roof top systems are also available on our link: Roof-Top Solar PV system project for home and office
Understand more about basics of Solar PV systems on our link: Solar electric, solar thermal, power generation, inverters, grid, off-grid: clearing the cobweb
Understand more about how to get NABARD subsidy on Solar PV Systems: Procedure to get subsidy on Solar PV Systems through NABARD in India